Apartments Fast Becoming the Property of Choice

By Thomas Homes on 23/02/2017

Apartments are fast becoming the property of choice for consumers, according to new research commissioned by the Royal Mail’s Address Management Unit (AMU).

The new research reveals that apartments now make up nearly a quarter (23 per cent) of all housing in the UK. The number of apartments has increased 4.2 per cent over the last four years, compared to total growth of 2.5 per cent for all UK housing in the same period.

The figure was revealed after the Royal Mail AMU partnered with the Centre for Economics and Business Research on a study to investigate the growth of apartments across the country. The study was commissioned after Royal Mail noticed that the number of apartments added to the Post Code Address File (PAF) surged by 18 per cent from April to December in 2016, compared to the same period in 2015.

The findings also revealed that London has the highest share, with apartments comprising 54 per cent of all housing in the capital. London also has the highest number of apartments (1.89 million) and has seen the greatest increase in the number of apartments, at 5.8 percent over the last four years.

In Swindon, Thomas Homes has continued this trend by building 325 apartments at its Heritage Plaza and Old Railway Quarter developments, next to the Swindon Designer Outlet Centre. The site is nearing completion with the final apartment building being Olympus House at Old Railway Quarter and under construction.

Hugh Thomas, Managing Director of Thomas Homes said: “We appreciate that many purchasers enjoy the lifestyle associated with apartment living, including a convenient central location, easy access to many shops and services, and attractive public space enjoyed by all residents.”

Apartments are available for sale in Olympus House at Old Railway Quarter from £157,500, and with the governments Help to Buy scheme being available qualifying purchasers would only need a 5% deposit of £7,875 to purchase their new dream home. The sales centre and show apartment is open Thursday to Monday 10am to 4pm telephone (01793) 497974.